SBI's Q1FY16 results were above estimates as the earnings grew by 10.3% YoY (-1.3% QoQ) to Rs 36.9 bn due to lower provision expenses. However the topline growth disappointed as NII growth slowed down to 3.6% YoY (-6.7% QoQ) led by slower loan growth and domestic NIM compression of 25 bps QoQ.